John Coumantaros, the Greek multimillionaire and chairman of Flour Mills of Nigeria Plc, has experienced a remarkable rise in the market value of his stake in the renowned food and agro-allied conglomerate.
According to recent data from Billionaires.Africa , Coumantaros' stake has risen by N17.67 billion 11.12 million, driven by a surge in investor interest in the consumer goods company. This follows a notable gain of 12.98 million recorded between June 7 and June 19 , where his stake grew from N98.7 billion 66.2 million to N111.68 billion 74.92 million.
Share price surge spurs significant gainsFlour Mills, established in 1960 by the late George Coumantaros and led by his son John Coumantaros, has established itself as a top player in the Nigerian food and agro-allied industries. Building on this legacy, the business has grown considerably over the years.
The company's shares on the Nigerian Exchange NGX witnessed an impressive 17.89-percent surge, rising from N38 0.024 on June 7 to N44.8 0.028 at the time of drafting this report - this surge has propelled its market capitalization above 115 million.
